The misadventures of a Singapore-listed REIT of Chinese malls leads this week’s roundup of personnel moves from around the region, as Dasin Retail Trust fires its CEO after she asked for back pay. Also making the list is Canada’s CDPQ, which gave its boss an extension, and Schroders Capital gives one of its Hong Kong stalwarts an upgrade.
The manager of Singapore-listed Dasin Retail Trust announced on 17 February that it had terminated the employment of its chief executive officer Wang Qiu with effect from three days earlier. The firing was announced after the manager of the Chinese mall REIT had earlier received letters of demand from Wang, as well as from then CFO Ng Mun Fai and other executives, for payment of back salary and other alleged debts. Earlier this month the trust’s manager, which is controlled by defaulting developer Sino-Ocean Group, had dismissed Ng and appointed Wang Peng as chief investment officer. With Wang Qiu’s termination Wang Peng has now also been named acting CEO.
Caisse de Dépôt et Placement du Québec announced earlier this month that it has extended its agreement with chief executive Charles Emond through 6 February 2029. Emond was named CEO of the Canadian pension fund manager and parent organisation of Ivanhoe Cambridge in 2020, with CDPQ having announced this past week that it will be conducting significant layoffs following its decision to integrate its real estate units directly into the main organisation.
Ingrid Cheh has taken on the additional role of Asia co-chief investment officer at Schroders Capital with the promotion coming nearly three years after she was named head of Hong Kong real estate with the UK fund manager, according to a LinkedIn update. Cheh, who continues to look after real estate deals in Hong Kong for Schroders, rejoined what was then Pamfleet in 2018, before the company was acquired by Schroders in 2020. She also has previous experience with JLL and Sino Group.
Temasek Holdings-backed Tikehau Capital has hired former BPEA managing director Colin Lim as head of private debt for Asia, according to a recent report by Bloomberg. Based in Singapore, Lim had served with BPEA since 2021, with the company having been acquired by Sweden’s EQT in 2022. Lim also has previous experience in special situations with CLSA and spent nine years with Apollo Global Management.
Genting Singapore announced on 22 February that it has appointed Andrew MacDonald as a director of Resorts World Sentosa, with MacDonald having served as chief casino officer with the Singapore gaming operator since September 2022. Prior to joining Genting’s Sentosa business in 2022, MacDonald had served as senior vice president and later chief casino officer across town at Marina Bay Sands.
Chirag Gupta has been named a vice president for investments at Oxford Properties Group in Singapore, according to a LinkedIn update. Gupta takes on his new role after just a year and a half as a director for real estate with the real estate investment division of pension fund manager Ontario Municipal Employees Retirement System (OMERS). Gupta also has previous experience with Apollo Global Management and Rezone Investment Advisors in India.
White & Case announced on 22 February that it has named John Cahill as a partner with the US law firm specialising in finance and M&A within the real estate sector. Cahill will be splitting his time between New York and Hong Kong and previously was a partner with Paul Hastings where he headed the firm’s real estate finance practice. Cahill’s speciality is financing for real estate and real asset funds.
Andrew Cannane has been promoted to senior executive director and head of real estate for Asia Pacific with Intertrust Group, according to a LinkedIn update. Based in Singapore, Cannane now oversees the outsourced trust service provider’s real estate business for the region after previously serving as executive director for corporate trust with Intertrust in Sydney. The University of Sydney graduate also has previous experience with Evans Dixon and Perpetual Ltd in the New South Wales capital.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.
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